Record-breaking July 4th travel expected with mixed impact on travel stocks

Gasoline prices are expected to be lower this July 4th weekend, with the national average price of gas at $3.55 per gallon, down from $4.87 last year. Demand for gasoline is down 4.4% this year and 20% below 2019 levels. The decline in gas prices is attributed to decreased demand and concerns of a recession. Despite lower prices, the holiday weekend is expected to be busy, with 85% of travelers driving to their destinations.